International News

Sep 01, 2019

1:22PM

Trump slaps 125 bn more in tariffs; China retaliates

AIR

China and the United States began imposing additional tariffs on each other’s goods today, the latest escalation in a bruising trade war, despite signs that talks would resume some time this month.

A new round of tariffs took effect from early morning, with Beijing’s levy of 5% on U.S. crude marking the first time the fuel has been targeted since the world’s two largest economies started their trade war more than a year ago.

Trump administration will begin collecting 15% tariffs on more than $125 billion in Chinese imports, including smart speakers, Bluetooth headphones and many types of footwear.

In retaliation, China started to impose additional tariffs on some of the U.S. goods on a $75-billion target list. Beijing did not specify the value of the goods that face higher tariffs from today.

The official Xinhua news agency said that the United States should learn how to behave like a responsible global power.